14 Mobile Metrics that Matter to Insurers

In his latest blog post, Joe McKendrick discussed how the role of mobile technology at insurance companies has opened up both new avenues of interaction with customers and new dimensions to internal operations. The current challenge for insurers, he said, is being able to measure what's working and whatís not with their mobile engagements. To that end, McKendrick highlighted a recent report from professional services firm EY that examines the various metrics insurers should put in place to track the profitability and value of their mobile engagements. The following pages outline each of the key metrics EY says insurers should capture in order to understand if a mobile outreach effort is having a positive impact. Photo courtesy of Thinkstock

1. Session Time

1. Session Time: The average amount of time spent on a mobile site Photo courtesy of Thinkstock

2. Depth of Visit

2. Depth of Visit: The average number of screens viewed compared to number of visits Photo courtesy of Thinkstock

3. Frequency of Visit

3. Frequency of Visit: The†ratio of the number of visits to the number of users over a period of time Photo courtesy of Thinkstock

4. Bounce Rate:

4. Bounce Rate:: The ratio of number of user visits with a single view event to total number of visits Photo courtesy of Thinkstock

5. Total Downloads

5. Total Downloads: The†number of times app is downloaded from an app store Photo courtesy of Thinkstock

6. App Users

6. App Users: The number of unique app users over a period of time

7. New Users

7. New Users: The first-time app users during a specified period of time Photo courtesy of Thinkstock

8. Usage Rate

8. Usage Rate: How many people are using the site over a period of time Photo courtesy of Thinkstock

9. Metric Benefit Impressions

9. Metric Benefit Impressions: The number of times a specific ad has been accessed or viewed by a user Photo courtesy of Thinkstock

10. Clicks

10. Clicks: The number of times a specific ad has been clicked on after being accessed or viewed by a user Photo courtesy of Thinkstock

11. Click-through Rate

11. Click-through Rate: The number of clicks divided by impressions Photo courtesy of Thinkstock

12. User Acquisition Cost

12. User Acquisition Cost: The†business cost to acquire a new user Photo courtesy of Thinkstock

13. Average Revenue Per User

13. Average Revenue Per User: The†total revenue divided by the number of users Photo courtesy of Thinkstock

14. Conversion Rate

14. Conversion Rate: The rate at which users are converting on the mobile site or app Photo courtesy of Thinkstock

In today's competitive marketplace, insurers must be able to measure what's working and what isnít with their mobile engagements.